Animoca Brands flagship project Moca Network will launch digital identity L1 chain

PANews reported on June 25 that according to CoinDesk , the flagship project of Web3 investment giant Animoca Brands, Moca Network , plans to launch a Layer-1 blockchain, Moca Chain , which aims to enable Web3 projects to achieve user identity identification and verification without relying on centralized platforms. Moca Chain will support cross-chain applications to verify user data, similar to the single sign-on service in the Web2 era. The Moca Chain testnet is expected to be launched in the third quarter, and the mainnet will be launched before the end of the year. Its native token MOCA will be used for validator staking, storage, data generation and verification fees. Yat Siu, founder of Animoca Brands , said that the project is committed to creating a digital ecosystem where users can truly own their own data, reputation and contributions, and promote the development of digital property rights.